Cetera Investment Advisers Sells 17,402 Shares of Workday, Inc. $WDAY

Cetera Investment Advisers reduced its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 36.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 30,982 shares of the software maker’s stock after selling 17,402 shares during the quarter. Cetera Investment Advisers’ holdings in Workday were worth $4,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Rakuten Securities Inc. acquired a new position in shares of Workday in the second quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC acquired a new stake in Workday during the 3rd quarter worth approximately $26,000. JPL Wealth Management LLC bought a new stake in Workday in the 3rd quarter valued at $30,000. DT Investment Partners LLC bought a new stake in Workday in the 4th quarter valued at $27,000. Finally, LRI Investments LLC acquired a new position in Workday in the 4th quarter valued at $29,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Up 3.8%

Shares of Workday stock opened at $171.28 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The stock has a 50 day moving average price of $137.99 and a two-hundred day moving average price of $139.18. The stock has a market capitalization of $42.31 billion, a PE ratio of 53.52, a price-to-earnings-growth ratio of 1.76 and a beta of 1.08.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the firm earned $2.23 earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. As a group, equities analysts anticipate that Workday, Inc. will post 5.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on WDAY shares. CLSA started coverage on shares of Workday in a report on Monday, July 20th. They issued an “underperform” rating and a $92.00 price objective for the company. Royal Bank Of Canada reiterated an “outperform” rating on shares of Workday in a research report on Friday, May 22nd. Needham & Company LLC cut their price target on Workday from $300.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Sanford C. Bernstein reissued an “outperform” rating and set a $216.00 price target on shares of Workday in a research report on Friday, May 22nd. Finally, UBS Group raised their price objective on Workday from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and an average target price of $179.80.

Insider Buying and Selling at Workday

In other news, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total value of $862,200.00. Following the completion of the sale, the chief financial officer owned 288,460 shares of the company’s stock, valued at approximately $41,451,702. The trade was a 2.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Robert Enslin sold 5,374 shares of the firm’s stock in a transaction dated Sunday, July 5th. The stock was sold at an average price of $134.90, for a total value of $724,952.60. Following the completion of the sale, the insider directly owned 239,469 shares in the company, valued at $32,304,368.10. The trade was a 2.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 875,020 shares of company stock valued at $113,938,503 in the last three months. Company insiders own 18.64% of the company’s stock.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.